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Mar 31
Kymera Therapeutics Q1 2025 Earnings Report
Kymera Therapeutics reported its financial results for the first quarter ended March 31, 2025, highlighting increased collaboration revenues and ongoing clinical trial advancements.
Key Takeaways
Kymera Therapeutics reported a net loss of $65.6 million for the first quarter of 2025, compared to $48.6 million in the same period last year. Collaboration revenues significantly increased to $22.1 million, primarily due to a $20 million milestone payment from the Sanofi collaboration. The company maintains a strong cash position of $775 million, extending its cash runway into the first half of 2028.
Collaboration revenues increased to $22.1 million in Q1 2025, up from $10.3 million in Q1 2024, driven by a $20 million milestone payment from Sanofi.
Net loss for Q1 2025 was $65.6 million, an increase from $48.6 million in Q1 2024, primarily due to higher R&D expenses.
Research and development expenses rose to $80.3 million in Q1 2025 from $48.8 million in Q1 2024, reflecting increased investment in STAT6 and TYK2 degrader programs.
The company's cash, cash equivalents, and investments totaled $775 million as of March 31, 2025, providing a cash runway into the first half of 2028.
Kymera Therapeutics
Kymera Therapeutics
Forward Guidance
Kymera Therapeutics expects its cash and cash equivalents to provide a runway into the first half of 2028, supporting multiple clinical inflection points in its pipeline.
Positive Outlook
- Completion of KT-621 (STAT6) SAD/MAD Phase 1 healthy volunteer trial with data expected in June 2025.
- First patient dosed in KT-621 (STAT6) BroADen Phase 1b trial in moderate to severe atopic dermatitis (AD) with data expected in 4Q25.
- KT-579 (IRF5) new oral immunology degrader program expected to enter Phase 1 clinical trial in early 2026.
- KT-474/SAR444656 (IRAK4) Phase 2b trials in HS and AD ongoing, led by partner Sanofi, with primary completion expected in H1 2026 for HS and mid-2026 for AD.
- Well-capitalized with $775 million in cash as of March 31, 2025, providing an extended runway into the first half of 2028.
Challenges Ahead
- Strategic decision made not to advance KT-295 (TYK2) into further clinical development.
- Increased research and development expenses due to investment in STAT6 and TYK2 degrader programs, and growth in R&D organization.
- Increased general and administrative expenses due to legal and professional service fees and growth as a public company.
- Net loss increased compared to the previous year, reflecting higher operating expenses.
- Potential risks associated with uncertainties inherent in the initiation, timing, and design of future clinical trials.